Inflation rate marginally down

09/07/2009 15:00

Inflation 1.4 percent

Food prices push down inflation rate

Difference with eurozone inflation rate remains 1.5 percentage points

According to the most recent figures released by Statistics Netherlands, the Dutch inflation rate was 1.4 percent in June 2009, i.e. 0.2 percentage points lower than in May. The eurozone inflation rate dropped by 0.1 percentage points to -0.1 percent.

Prices of food articles, airline tickets and clothes had a downward effect on inflation, but car fuels, flowers and plants forced up the inflation rate in the Netherlands.

Inflation according to the European harmonised method (HICP) was 1.4 percent in June. If last year‛s excise duty increase on car fuels, tobacco and beer is not taken into account, the rate would have been 1.0 percent.

The eurozone inflation rate in June was -0.1 percent. The difference between the eurozone and the Netherlands is also caused by energy price fluctuations. Over the past months, lower oil prices have had a considerable downward effect on the gas and electricity price level in most EU member states. In July, Dutch energy prices will be adjusted for most consumers. The food price level also contributes to the difference between the inflation rates in the Netherlands and the eurozone.